Bizview: Today's top business news

Long queues at City Hall MRT station after the major train disruptions on the North-South and East-West lines on July 7, 2015.
Long queues at City Hall MRT station after the major train disruptions on the North-South and East-West lines on July 7, 2015.ST PHOTO: CAROLINE CHIA

STI climbs 12 points amid positive sentiment across Asian bourses

Asian markets recovered slightly yesterday, soothed by the waning pressures in both Greece and China. The brighter overall sentiment sent The Straits Times Index up 12.48 points, or 0.38 per cent, to 3,279.88 points.

SMRT could face S$50m fine for massive rail breakdown, says Maybank Kim Eng

SMRT could get slapped with a S$50 million fine for Tuesday's unprecedented breakdown on the North-South and East-West lines, Maybank Kim Eng said in a report on Friday. Keeping its "hold" call on the stock, the broker said: "We believe that the regulators could fine SMRT for the service disruptions.

HSBC names Steven Cranwell as new head of commercial banking for Singapore

HSBC on Friday announced the appointment of Steven Cranwell as head of commercial banking, Singapore. He takes over from Kelvin Tan, who has been appointed chief executive officer for HSBC in Thailand. Mr Cranwell will have responsibility for HSBC's large corporates, middle market, and small and medium-sized enterprise banking segments.

Greek parliament will back govt's make-or-break offer to creditors : Party spokesman

The Greek parliament will give the government a mandate to negotiate with creditors for a cash-for-reforms deal, the parliamentary spokesman of the ruling Syriza party told reporters on Friday. Prime Minister Alexis Tsipras has called a snap vote in parliament on Friday asking for its backing to negotiate a list of "prior actions" - measures his government would take to convince creditors of its intent for an aid deal.

Outage shows NYSE''ss shrinking impact on global stock markets

When the New York Stock Exchange halted trade Wednesday morning, broadcasters showed images of brokers on the legendary exchange floor suddenly stopping orders. Yet screens used by investors everywhere continued to flash new trade prices in red and green for ExxonMobil, JPMorgan Chase and other NYSE blue chip stocks, as fresh transactions were executed on other platforms, including the Nasdaq, the NYSE's cross-town rival.